Sarah, 28, and Wells, 35, announced their big news on Instagram by posting a series of photos from their special moment.
Wells posted a video of the romantic proposal, which showed him getting down on one knee and then toasting the occasion after Sarah said yes and embraced her new fiance.
"I'll be Johnny, you be June. But forever. - Drew Holcomb & The Neighbors," Wells captioned the video.
And Sarah shared a picture in which she was covering her mouth with her hand as Wells was kneeling in the sand. She also posted images of them kissing and Wells holding up her hand to show off the diamond ring.
"That can't eat, can't sleep, reach for the stars, over the fence, world series kind of stuff, Sarah captioned her slideshow, quoting the 1995 film It Takes Two.
Wells and Sarah flirted a bit on Twitter in 2016 and then got together in Fall 2017. They went public with their romance in October 2017 when they attended a Halloween party together and dressed in matching costumes.
The couple officially declared their love for one another on social media a couple of months later in December.
Although Wells and Sarah dated long distance in the beginning of their romance -- with Wells living in Nashville and Sarah residing in Los Angeles -- Wells moved to California for his girlfriend in Summer 2018.
A source told Us Weekly in July 2018 that Wells and Sarah were "extremely serious."
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"[Sarah has] never been this serious about anybody and all of her friends completely support them and think Wells is great for her," the source added at the time.
Sarah then told Us in September of last year Wells was "The One" for her. That same month, Wells opened up about the idea of marrying the actress.
"My family would be involved and they would ruin the entire experience because they're crazy," Wells told the magazine, adding that he wouldn't want the nuptials to be televised.
"They would have too much fun at the wedding and that would be a whole other story. Chris Harrison would kick my brother out of a part and be like, 'You're too drunk, you need to leave.' Maybe [Chris would officiate]. He's good at it. I think Chris just lives with camera crews following him around. I don't think I would want that."
Sarah split from her ex-boyfriend, actor Dominic Sherwood, in August 2017 after dating for two years.